Skip to main content

View Diary: Tennessee Republicans single out unions with anti-picketing bill (58 comments)

Comment Preferences

  •  TarheelDem - Delaware, home to half the public (3+ / 0-)

    companies in the US, has too robust a cottage industry in the incorporation business for any legislator to be elected with the goal of killing the golden goose. It's not that Delaware has the most business friendly corporate laws. It's that there is such a expansive body of corporate statutory and cases law, and an expeditious court system for resolving corporate disputes, that it basically serves as the national center of corporate law. Every lawyer in the US who has a serious corporate law practice, at a minimum, knows the laws in their state and in Delaware. It is the common meeting ground for corporate America. It's a way for a company in Boston and one in San Francisco to have an agreement based on a body of law that the lawyers on both sides know thoroughly.

    My wish is that the Delaware legislature would pass a statute changing the fiduciary duty rule from one where the only party the officers and directors can represent is the long term interests of the shareholders to the Indiana standard that allows them to take into account not only the shareholders, but the employees, suppliers, customers, and communities.

    "let's talk about that"

    by VClib on Thu Feb 27, 2014 at 02:10:39 PM PST

    [ Parent ]

    •  Exactly why I chose it (2+ / 0-)
      Recommended by:
      thanatokephaloides, Dirtandiron

      Like I said, the equivalent of labor-strong Wisconsin.  And you see what happened there.

      It's very interesting how we limit our vision of what is possible, isn't it.  Of course we don't have the deep pockets of the Koch brothers or the creative liars who develop their carpet bombing media.  But nonetheless, the word "realistically" even if correct limits our political thinking.

      50 states, 210 media market, 435 Congressional Districts, 3080 counties, 192,480 precincts

      by TarheelDem on Thu Feb 27, 2014 at 03:34:35 PM PST

      [ Parent ]

      •  I think you missed my point (0+ / 0-)

        Companies, particularly public companies, aren't incorporated in Delaware because it has the most corporation friendly laws. It's because it has a comprehensive body of law that doesn't exist anywhere else in the US and a nationwide body of attorneys who know it cold. It seems impossible to me that the Delaware legislature would give us this very lucrative source of state revenue, and employment, knowing that numerous states would be pleased to step into its shoes and compete for the most corporate friendly state with laws much more favorable than Delaware.

        "let's talk about that"

        by VClib on Thu Feb 27, 2014 at 05:33:13 PM PST

        [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site